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Insurance providing civil liability coverage guaranteeing the property against damages caused by guests and third parties is required of all operators responsible for “AL” services. The minimum capital per claim is €75,000. Entities operating “AL” units that are part of a condominium must also have coverage guaranteeing property damage caused by fire in or from the “AL” unit. These insurances are mandatory for all Local Lodging establishments registered after 21 October 2018. Their absence is grounds for cancellation of “AL” registrations. Units registered before this date have up to two years to meet the requirements.
Airbnb, the internet Local Lodging reservation platform, collected and delivered €2,600,000 in Municipal Tourist Tax during the first six months of the year, reaching a grand total of €8,100,000 raised on behalf of the Lisbon Council since the tax began in January of 2016. In 2017, the aggregate holiday let levy revenues came to €18,500,00 taken in by the country’s capital city.
Those who live and work in Lisbon like tourists who visit the Portuguese capital. More than 90% of the population favours the presence of tourists. In addition, the contribution of tourism to the economic activity of the Lisbon Region is significant. In 2015 it amounted to 8.4 billion euros, corresponding to an average annual growth of 8% over the previous 10 years according to a survey by Intercampus and Deloitte Studies.
Lisbon, the city that pioneered the levy in Portugal, charges 1 euro on each night in the capital. The assessment brought more than 11 million euros to Lisbon in just 10 months. Vila Real de Santo António and Cascais are set to follow the example in 2017. Porto also contemplates launching a Tourist Tax but only as of 2018. Aveiro attempted to implement the measure in 2013, but a year later, suspended the fee.
Of the 4000 registered tourist Apartments in the Capital, 400 fall into the category of “serviced apartments”, directed to executives in the business sector. The remainder are classified as “local lodging”, sought after by tourists of all nationalities and economic classes. Registered beds have triple in past 6 months to 11,500. Per bed costs range on average from €26 to €39 per Person.